In 2003, the late author and investment banker Matther Simmons predicted that with “certainty,” by 2005 the U.S. would enter a long-term natural gas crisis for which the only solution was “to pray.” T. Boone Pickens and a number of high-profile energy insiders concurred. ConocoPhillips and ExxonMobil made large acquisitions of natural gas companies, betting on a future with much higher natural gas prices. Liquefied natural gas (LNG) import terminals were being built to help address the expected supply shortfall. By 2005,…

via OilPrice https://ift.tt/fjqE9Ra